July 18, 2008

Loudoun County Price Reductions, Townhouse Edition (7/18)

A few weeks ago, I wrote a post about the noticeable increase in significant price reductions (significant being defined, by me, as being greater than $50k). As with all rules, this one has an exception: townhouses. The only thing worth noting about townhouse reductions this summer is that they have been mostly occurring in nearly imperceptible increments (i.e., $5k to $10k drops). Unless a buyer is really paying attention, is a $5k price reduction going to leap off the page? Probably not. My personal rule of thumb with price reductions is this: If  a house is truly only overpriced by $5000 or $10,000, any serious buyer nowadays would have no problem shaving that much off of an offer price and the property would have already sold.  

Now that I’ve gotten that off of my chest, let’s move on to this week’s townhouse price reductions. I did manage to find a few that were reduced by more than $10k, and they’re featured here. There were no reduced townhomes in Belmont Country Club this week. Happy hunting! 

ASHBURN FARM
43229 Chestermill Ter, 20147
4 bd/3.5 ba; sq. ft. unavailable
Reduced from $349,000 to $329,000 (Original list price: $399,000)
Days on Redfin: 49 

ASHBURN VILLAGE
43974 Choptank Ter, 20147
3 bd/2.5 ba; 1426 sq. ft.
Reduced from $279,900 to $259,900 (Original list price: $305,900)
Days on Redfin: 183 

BRAMBLETON
42435 Greenside Dr, 20148
3 bd/2.5 ba; 3038 sq. ft.
Reduced from $419,000 to $400,000 (Original list price: $489,000)
Days on Redfin: 279 

BROADLANDS
21388 Shady Wood Ter, 20148
3 bd/3.5 ba; 2229 sq. ft.
Reduced from $379,900 to $369,900 (Original list price: $384,900)
Days on Redfin: 18 

LANSDOWNE
19099 Icehouse Ter, 20176
4 bd/3.5 ba; sq. ft. unavailable
Reduced from $434,888 to $408,888 (Original list price: $516,888)
Days on Redfin: 69